Modernist Podcast - Promo

Markets Brace for Tech Earnings, Stocks Fall


Stocks dipped Tuesday as investors analyzed the latest corporate earnings with the Federal Reserve policy meeting on the horizon. Traders also awaited results from major tech companies.

The Dow Jones Industrials leaned back 37.09 points to begin Tuesday at 38,296.36.

The S&P 500 index slid 3.84 points to 4,924.09.

The NASDAQ faltered 36.83 points to 15,591.23.

General Motors shares popped 7% after the automaker posted better-than-expected earnings. Cybersecurity stock F5 gained 2% on the back of a better-than-expected financial report, while electronics manufacturer Sanmina soared more than 27% after posting strong earnings per share and current-quarter guidance.

Elsewhere, home-appliances maker Whirlpool shed more than 5% after sharing a worse-than-expected outlook for the full year. JetBlue was also down 5% even after disclosing better-than-expected results.

Those reports come ahead of major tech reports slated for the afternoon, including Microsoft and Alphabet. These companies, which are part of a group known as the “Magnificent 7,” have been closely watched by market participants after driving up the S&P 500 with their outsized gains. Amazon, Meta and Apple will post their quarterly financials later in the week.

Prices for the 10-year Treasury sagged, raising yields to 4.09% from Monday’s 4.08%. Treasury prices and yields move in opposite directions.

Oil prices regained 41 cents to $77.19 U.S. a barrel.

Gold prices surged $12.10 to $2,056.70.



Source link

About The Author

Scroll to Top